Brokerages expect that Ares Management Corp (NYSE:ARES) will announce sales of $228.42 million for the current quarter, according to Zacks. Three analysts have made estimates for Ares Management’s earnings. The lowest sales estimate is $223.85 million and the highest is $236.00 million. Ares Management reported sales of $189.52 million in the same quarter last year, which indicates a positive year over year growth rate of 20.5%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, May 2nd.
According to Zacks, analysts expect that Ares Management will report full-year sales of $960.53 million for the current financial year, with estimates ranging from $945.38 million to $985.00 million. For the next year, analysts forecast that the business will report sales of $1.08 billion, with estimates ranging from $1.06 billion to $1.12 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Ares Management.
Ares Management (NYSE:ARES) last posted its quarterly earnings results on Thursday, February 14th. The asset manager reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.10. The business had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $241.59 million. Ares Management had a net margin of 5.95% and a return on equity of 28.58%. The business’s quarterly revenue was down 34.0% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share.
Institutional investors have recently modified their holdings of the stock. Manning & Napier Group LLC raised its holdings in shares of Ares Management by 63.0% during the fourth quarter. Manning & Napier Group LLC now owns 52,090 shares of the asset manager’s stock worth $925,000 after purchasing an additional 20,135 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Ares Management by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 950,760 shares of the asset manager’s stock worth $22,058,000 after purchasing an additional 193,695 shares during the last quarter. Delek Group Ltd. raised its holdings in shares of Ares Management by 5.4% during the fourth quarter. Delek Group Ltd. now owns 539,720 shares of the asset manager’s stock worth $9,854,000 after purchasing an additional 27,621 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Ares Management by 2.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 41,400 shares of the asset manager’s stock worth $736,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Ares Management by 128.5% during the third quarter. Morgan Stanley now owns 234,539 shares of the asset manager’s stock worth $5,441,000 after purchasing an additional 131,900 shares during the last quarter. 59.55% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE ARES traded up $0.61 during midday trading on Friday, reaching $24.47. The company had a trading volume of 689,505 shares, compared to its average volume of 642,736. The stock has a market cap of $2.52 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.28 and a beta of 1.61. Ares Management has a 1 year low of $16.18 and a 1 year high of $24.67. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.63.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Ares Management’s previous quarterly dividend of $0.28. Ares Management’s dividend payout ratio (DPR) is 90.14%.
Ares Management Company Profile
Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.
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